Updated Dec 21, 2023
Ariel Property Advisors Facilitates $22.5M Multifamily Sale In Morris Heights, Bronx
1514 Sedgwick Avenue, The Bronx, New York 10453, United States
$22,500,000
$238/SF
Building Size
94,339 SF
Asset Type
MultiFamily
Closing
Apr 27, 2022
About this deal
AI
An multifamily property located at 1514 Sedgwick Avenue in Morris Heights, Bronx has been sold for a price of $22,500,000. The transaction took place on 04/28/2022. This property consists of 96 units with an average price per unit of $234,375. The total square footage of the property is 94,430, resulting in a price per square foot of $238.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $22,500,000
- Units: 96
- Average Price Per Unit: $234,375
- Square Footage: 94,430
- Price Per Square Foot: $238
- Location: 1514 Sedgwick Avenue, Morris Heights, Bronx
- Brokers: Victor Sozio, Shimon Shkury & Daniel Mahfar - Ariel Property Advisors
Victor Sozio, Shimon Shkury & Daniel Mahfar from Ariel Property Advisors represented the parties involved in the transaction.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93